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Posts: 77
Registered: ‎10-29-2009
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Navy Federal Secured Card

I joined NFCU just to apply for their secured card. I was denied by BofA 4 months ago for theirs, so I wasnt sure if I would even be approved. My score now is around 570. Im happy to report I was appproved with my $500deposit. Hopefully I can continue to raise my score after 6 more months enough to be approved for an auto loan through NFCU!
Regular Contributor
Posts: 131
Registered: ‎09-28-2007
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Re: Navy Federal Secured Card

Way to go Armyguy... congrats!  Your score will be improving with each on time payment and then NFCU can consider you for an auto loan and unsecured CC.
Valued Member
Posts: 44
Registered: ‎02-15-2009
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Re: Navy Federal Secured Card

Congrats.. you are on the fast track to a good FICO. NFCU rocks.
Valued Member
Posts: 26
Registered: ‎03-15-2008
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Re: Navy Federal Secured Card

congrats, my brother was approved for a 2500 LOC, 2800 personal expense loan and a $20k auto with a 570 FICO, baddies he had was 12 collections.
Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
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Re: Navy Federal Secured Card

NFCU does not have credit criteria for secured cards, except that you must secure it.


There is no application.  Once you have funds in savings, you call in and tell them you want a secured card and for what amount (which must be in savings).  They will put a freeze on that amount of savings and issue the card.  I have never heard of a denial for any reason.



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09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
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Re: Navy Federal Secured Card

[ Edited ]

They do pull your credit report, but only to determine what interest rate you'll get. 


P.S.  Anybody have luck getting Navy Federal tell you what your FICO score was when they pulled your report?



Message Edited by O6 on 12-16-2009 06:56 PM
Frequent Contributor
Posts: 488
Registered: ‎04-09-2008
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Re: Navy Federal Secured Card

I started with NFCU with a secured card, about 6 months later I re-financed my auto loan with them (one thing they are good about is explaining bi-weekly auto loan payments) I think my score was in the 610-620 range ( two credit card charge offs still reporting) I have since gotten a line of credit for 8k and another used car loan, + pre-approval for a new car loan- which I didn't use. I would say during this time myscores never exceeded 640. They always pull EQ.

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